tv [untitled] May 6, 2012 3:30pm-4:00pm PDT
have a bank account, things to an innovative program, bank on s.f. >> everyone is welcome, even if you are not a citizen or have bad credit to qualify for a bank account is simple. just live or work in san francisco and have a form of id. >> we started bank on s.f. six years ago to reach out to folks in the city who do not have a bank account. we wanted to make sure they know they have options which should be more low-cost, more successful to them and using chat catchers. >> check cashing stores can be found all over the city, but they're convenient locations come with a hidden price. >> these are big. >> i remember coming in to collect -- charged a fee to collect a monogram. >> people who use check
catchers, particularly those who use them to cash their paychecks all year long, they can pay hundreds, even a thousand dollars a year just in fees to get access to their pay. >> i do not have that kind of money. >> i would not have to pay it if i had a bank account. >> bank accounts are essential. they keep your money saved and that helps save for the future. most banks require information that may limit its pool of qualified applicants. encouraging to turn to costly and unsafe check captures. >> i do not feel safe carrying the money order that i get home. >> without a bank account, you are more vulnerable to loss, robbery, or theft. thankfully, the program was designed to meet the needs of every kind, so qualifying for a bank account is no longer a problem.